Let $Pr^L$ denote the $\infty$-category of [presentable $\infty$-categories](https://ncatlab.org/nlab/show/locally+presentable+%28infinity%2C1%29-category) and left adjoint functors. Let $Pr^L_\kappa \subset Pr^L$ denote the locally-full subcategory of [$\kappa$-compactly-generated $\infty$-categories](https://ncatlab.org/nlab/show/compactly+generated+%28%E2%88%9E%2C1%29-category) and left adjoints which preserve $\kappa$-compact objects (where $\kappa$ is some fixed regular cardinal). Note that in addition to being a _subcategory_ of $Pr^L$, the $\infty$-category $Pr^L_\kappa$ is itself presentable, and so is naturally regarded as an _object_ of $Pr^L$.

I would like to regard $Pr^L_\kappa \in Pr^L$ as an object which is analogous to an [object classifier](https://ncatlab.org/nlab/show/%28sub%29object+classifier+in+an+%28infinity%2C1%29-topos) (a.k.a. "universe") $\mathcal U_\kappa$ in an $\infty$-topos $\mathcal E$. I'm not sure this is a "correct" intuition, so here are some questions which I hope will help sort out whether it is:

**Question 1:** What does the object $Pr^L_\kappa \in Pr^L$ represent?

That is, is there some snappy description of the hom-functor $Map_{Pr^L}(-, Pr^L_\kappa) : (Pr^L)^{op} \to SPACES$, or the 2-categorical hom-functor $Fun^L(-,Pr^L_\kappa) : (Pr^L)^{op} \to CAT$ or maybe the internal-hom functor $Fun^L(-, Pr^L_\kappa) :(Pr^L)^{op} \to Pr^L$? Ideally such a description would be along the lines of the functor represented by an object classifier, sending $\mathcal C \in Pr^L$ to some sort of size-restricted version of the slice $Pr^L/\mathcal C$ -- maybe with extra assumptions on $\kappa$ such as asking it to be strongly inaccessible.

**Question 2:** What does $Pr^L_\kappa \in Pr^L$ represent when restricted to $Pr^L_\kappa \subset Pr^L$?

That is, is there a nice description of the restricted hom-functor $Map_{Pr^L}(-,Pr^L_\kappa) : (Pr^L_\kappa)^{op} \to SPACES$, or of the 2-categorical or internal variants valued in $CAT$ or $Pr^L$?

Finally, observe that, at least when $\kappa$ is an _uncountable_ regular cardinal, the $\infty$-category $Pr^L_\kappa$ (which is equivalent to the $\infty$-category $Rex_\kappa$ of small, $\kappa$-cocomplete categories and $\kappa$-cocontinuous functors) is itself $\kappa$-compactly-generated. So we may ask:

**Question 3:** What does $Pr^L_\kappa \in Pr^L_\kappa$ represent?

There are a few ways to make this precise. The functor $U$ "represented" by $Pr^L_\kappa$ might be taken to be any of the following:

 1. $U = Map_{Pr^L_\kappa}(-,Pr^L_\kappa) : (Pr^L_\kappa)^{op} \to Spaces$

 2. $U = Fun^{L,\kappa}(-,Pr^L_\kappa) : (Pr^L_\kappa)^{op} \to Cat$

 3. $U = Ind_\kappa(Fun^{L,\kappa}(-,Pr^L_\kappa)) : (Pr^L)_\kappa^{op} \to CAT$

 4. $U = Ind_\kappa(Fun^{L,\kappa}(-,Pr^L_\kappa)) : (Pr^L)_\kappa^{op} \to Pr^L_\kappa$

 5. $U = Ind_\kappa(Fun^{L,\kappa}(-,Pr^L_\kappa)) : (Pr^L)_\kappa^{op} \to Pr^L$

Of these, (4) looks particularly attractive to me, since it's the "internal" version. But perhaps another option (or something else entirely!) is actually a better way to think about it!